50 South Capital Advisors has called off its intended acquisition of Aurora Investment Management.
The closing conditions of the deal — which was announced March 2 — required that a minimum number of investors in Aurora funds agree to the new ownership structure. That threshold was not met, said John O’Connell, a spokesman for Northern Trust Asset Management, parent company of 50 South Capital, in an e-mail.
Ted Meyer, a spokesman for Natixis Global Asset Management, Aurora’s parent company, confirmed during an interview that the decision to terminate the acquisition agreement was mutual.
Aurora partners Roxanne M. Martino, CEO, and Scott C. Schweighauser, president and portfolio manager, did not respond to an e-mail request for comment.